The hedge fund recently launched an application for an additional judicial review into the deal which saw Wasps takeover Ricoh Arena operators ACL.

But that has now been put on hold by the courts until the firm’s ongoing legal battle with Coventry City Council has been dealt with.

Sisu is currently attempting to appeal a judgment in favour of the council by Mr Justice Hickinbottom which followed a judicial review last summer to scrutinise the lawfulness of a taxpayer-funded £14.4million loan from the council to ACL.

New documents lodged with the High Court this week show the separate judicial review into the Wasps deal has been “stayed” pending the outcome of Sisu’s ongoing appeal.

The documents also show that the Alan Edward Higgs Charity has been listed as an “interested party” alongside ACL and Wasps, while Coventry City Council are listed as defendants and Sisu companies Sky Blue Sports and Leisure, Avro Master Fund and Otium Entertainment as claimants.

The court order application to “stay” the new legal action was lodged by Coventry City Council solicitor Christine Forde.

Interestingly, the application confirms that the terms of the council’s original January 2013 loan to ACL have been altered as part of the deal with Wasps.

It reads: “The claimants are seeking judicial review of the council’s decision of October 7, 2014.

“By that decision the council decided, among other things, to reduce the term of an outstanding loan from the council to the first interested party (ACL).”

Coventry City Council, Wasps and ACL have all refused to publicly comment on any new loan agreement terms citing commercial confidentiality.

The order also instructs Sisu to pay £14,752 to their solicitors Brown Rudnick to cover the council’s legal costs should they be required to pay the defendant’s legal costs in defending the new judicial review.